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The independent auditor's report provides a qualified opinion on the consolidated financial statements of Mobisy Technologies Private Limited and its subsidiaries for the year ending March 31, 2025, highlighting a classification issue regarding Compulsorily Convertible Cumulative Preference Shares. The report states that while the financial statements generally comply with the Companies Act and Indian Accounting Standards, the treatment of the CCCPS does not align with Ind AS 32. The auditor emphasizes the responsibilities of the management and board of directors in preparing the financial statements and expresses concerns about the comparability of current and previous period figures due to the identified issue.
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0% found this document useful (0 votes)
10 views61 pagesBizom FY24
The independent auditor's report provides a qualified opinion on the consolidated financial statements of Mobisy Technologies Private Limited and its subsidiaries for the year ending March 31, 2025, highlighting a classification issue regarding Compulsorily Convertible Cumulative Preference Shares. The report states that while the financial statements generally comply with the Companies Act and Indian Accounting Standards, the treatment of the CCCPS does not align with Ind AS 32. The auditor emphasizes the responsibilities of the management and board of directors in preparing the financial statements and expresses concerns about the comparability of current and previous period figures due to the identified issue.
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SV Tower, Mo. 27, Floor 4
M $ KA & Associates ergo acioes wow
‘ered Accountan
INDEPENDENT AUDITOR'S REPORT
To the Members of Hobisy Technologies Private Limited
Report on the Audit of the Consolidated Financial Statements
Qualified Opinion
‘We have audited the accompanying consolidated financial statements of Mobisy Technologies Private
Limited (hereinafter referred to as the “Holding Company”) and its subsidiaries (Holding Company
and its subsidiaries together referred to as “the Group”), which comprise the Consolidated Balance
Sheet as at March 31, 2025, and the Consolidated Statement of Profit and Loss including Other
Comprehensive Income, the Consolidated Statement of Changes in Equity and the Consolidated
Statement of Cash Flows for the year then ended, and notes to the Consolidated Financial
Statements, including material accounting policy information and other explanatory information
(hereinafter referred to as the “consolidated financial statements”).
In our opinion and to the best of our information and according to the explanations given to us,
except for the possible effects of the matter described in Basis for Qualified Opinion section of our
report, the aforesaid consolidated financiat statements give the information required by the
Companies Act, 2013 ("the Act”) in the manner so required and give a true and fair view in conformity
with the Indian Accounting Standards prescribed under section 133 of the Act read with Companies
(Indian Accounting Standards) Rules, 2015, as amended (“Ind AS") and other accounting principles
generally accepted in India, of their consolidated state of affairs of the Group as at March 31, 2025,
of consolidated loss (including other comprehensive income), consolidated changes in equity and its
consolidated cash flows for the year then ended.
Basis for Qualified Opinion
‘As described in Note 39 to the consolidated financial statements, the Holding Company has classified
the Compulsorily Convertible Cumulative Preference Shares (CCCPS) including premium amounting
to INR 433.81 million till date of modification i.e., waiver obtained by the Holding Company, as an
equity instrument. Such accounting treatment in the previous year till the date of modification, is
not in accordance with Ind AS 32 ‘Financial Instruments: Presentation’ (*"IND AS 32"). At the waiver
date, the classification of such CCCPS should have been changed from “financial liability” to “Equity”
and accordingly, CCCPS was correctly disclosed under Equity in the previous year financial statements
je, as at March 31, 2024, in accordance with Ind AS 32. In the absence of fair valuation of the CCCPS
and the quantification of the extinguishment effect as of the waiver date, we are unable to comment
(on the possible effect of the aforesaid matter on the comparability of the current period figures with
corresponding figures relating to the statement of profit and loss, including related income tax
effects if any.
‘This matter was also qualified in our report on the consolidated financial statements for the year
sd March 31, 2024.
Page 1 of 7
Head orice: 407, le 6, Raheja Tank ester agrs Highway. Geeta Railway Colo, Ram Nar, Govegacn 6), Mumbai 00062, NDIA, Tet #122628 0519
rmedabad Gent I Chess | Gos | Gorpram | Hyderated | Koen) | wolits | Munial | Pune eon MSKA & Associates
Chartered Accountants
We conducted our audit of the consolidated financial statements in accordance with the Standards
‘on Auditing (SAs), as specified under section 143(10} of the Act. Our responsibilities under those SAs
are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial
Statements section of our report. We are independent of the Group, in accordance with the ethical
requirements that are relevant to our audit of the consolidated financial statements in terms of the
Code of Ethics issued by Institute of Chartered Accountant of India (“ICAI”), and the relevant
provisions of the Act and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained and on consideration of audit
reports of other auditors referred to in paragraph (a) of the “Other Matters” section below, is
sufficient and appropriate to provide a basis for our qualified opinion.
Information Other than the Consolidated Financial Statements and Auditor's Report Thereon
The Holding Company's Board of Directors is responsible for the other information. The other
information comprises the Director’s report but does not include the consolidated financial
statements and our auditor’s report thereon,
Our opinion on the consolidated financial statements does not cover the other information and we
do not express any form of assurance conclusion thereon.
In connection with our audit of the consolidated financial statements, our responsibility is to read
the other information and, in doing so, consider whether the other information is materially
‘inconsistent with the consolidated financial statements or our knowledge obtained in the audit or
‘otherwise appears to be materially misstated. If, based on the work we have performed, we conclude
‘that there is a material misstatement of this other information, we are required to report that fact,
‘As described in basis for Qualified Opinion section above, the Holding Company has classified the
‘Compulsorily Convertible Cumulative Preference Shares (CCCPS), including premium amounting to
INR 433.81 million till date of modification 1.e. walver obtained by the Holding Company, as an equity
‘instrument, which is not accordance with the requirements of Ind AS 32, At the waiver date, the
classification of such CCCPS should have been changed from “financial liability” to “Equity” and
accordingly, CCCPS was correctly disclosed under Equity in the previous year financial statements
i.e. as at March 31, 2024, in accordance with Ind AS 32. In the absence of fair valuation of the CCCPS
and the quantification of the extinguishment effect as of the waiver date, we are unable to comment
‘on the possible effect of the aforesaid matter on the comparability of the current period figures with
corresponding figures relating to the statement of profit and loss, including related income tax
effects if any.
Accordingly, we are unable to conclude whether or not the other information is materially misstated
with respect to this matter.
Page 2 of 7
Head otc: 402 lot 6, Rae Tarun, Western Exess Highnay,Gestajal avay Colony, Pam Nasr, Goresnn (CMa 409053, HOA, Te 29422238 0515
Srmedotad | Bengal | Choraa! "Goat" Gurugar | Hyderabad | wach) | allots | ames | Pune eb MSKA & Associates
Chartered Accountants
Responsibilities of Management and Board of Directors for the Consolidated Financial Statements
‘The Holding Company's Board of Directors is responsible for the preparation and presentation of
these consolidated financial statements in term of the requirements of the Act that give a true and
fair view of the consolidated financial position, consolidated financial performance, consolidated
changes in equity and consolidated cash flows of the Group including in accordance with the
accounting principles generally accepted in India, including the Accounting Standards specified under
section 133 of the Act. The respective Management and Board of Directors of the companies included
in the Group are responsible for maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of the Group for preventing and detecting frauds
and other irregularities; the selection and application of appropriate accounting policies; making
Judgments and estimates that are reasonable and prudent; and the design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring
accuracy and completeness of the accounting records, relevant to the preparation and presentation
of the consolidated financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error, which have been used for the purpose of preparation
of the consolidated financial statements by the Management and Board of Directors of the Holding
Company, as aforesaid,
In preparing the consolidated financial statements, the respective Management and Board of
Directors of the companies included in the Group are responsible for assessing the ability of the Group
to continue as a going concem, disclosing, as applicable, matters related to going concern and using
the going concer basis of accounting unless the Board of Directors either intends to liquidate the
Group or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group are responsible for
overseeing the financial reporting process of each company.
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial
statements as a whole are free from material misstatement, whether due to fraud or error, and to
issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with Standards on Auditing (“SAS”) will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of these consolidated financial
statements,
We give in “Annexure A” a detailed description of Auditor's responsibilities for Audit of the
Consolidated Financial Statements.
EAN é|
Sa
Page 3 of 7
eos Ore: 62, Foe 6, Raheja Tae, Western Expres Hahway, Getaral Klay Colony arm Nagar, Goregaon (), Merbl AOOD53, NDS, Tel: «511262380519
‘Avedebad | Bevgatsa Chennai 1" Gon 1 Gouge | Hyerabsd | Koch! | Ralate’ | Mamba | Pune aah MSKA & Associates
Chartered Accountants
Other Matter:
a. We did not audit the financial statements of one subsidiary whose financial statements
reflect total assets of Rs. 0.10 million as at March 31, 2025, total revenues of Nil and net
cash flows amounting to Rs. 0.10 million for the year ended on that date, as considered in
the consolidated financial statements. These financial statements have been audited by
other auditor whose report have been furnished to us by the Management and our opinion on
the consolidated financial statements, in so far as it relates to the amounts and disclosures
included in respect of this subsidiary and our report in terms of sub-section (3) of Section 143
of the Act, in so far as it relates to the aforesaid subsidiary, is based solely on the report of
the other auditor.
We did not audit the financial information of one subsidiary, witese financial information
reflect total assets of Rs. 71.31 Million as at March 31, 2025, total revenues of Rs. 127.25
Hillion and net cash flows amounting to Rs.9.94 Million for the year ended on that date, as
considered in the consolidated financial statements. These financial information are
unaudited and have been furnished to us by the Management and our opinion on the
consolidated financial statements, in so far as it relates to the amounts and disclosures
included in respect of this subsidiary and our report in terms of sub-section (3) of Section 143
of the Act in so far as it relates to the aforesaid subsidiary, is based solely on such unaudited
financial information. tn our opinion and according to the information and explanations given
to us by the Management, this financial information are not material to the Group.
‘Our opinion on the consolidated financial statements is not modified in respect of the above
matters.
Report on Other Legal and Regulatory Requirements
1, As required by Section 143(3) of the Act, based on our audit and on the consideration of the
reports of the other auditors on the financial information of the subsidiaries referred to in
‘the Other Matters section above we report, to the extent applicable, that:
‘a. We have sought and except for the possible effect of the matter described in the Basis
for Qualified Opinion above, obtained all the information and explanations which to the
best of our knowledge and belief were necessary for the purposes of our audit of the
aforesaid consolidated financial statements.
b. incur opinion, proper books of account as required by law relating to preparation of the
aforesaid consolidated financial statements have been kept and so far as it appears from.
‘our examination of those books and the reports of the other auditors.
c. The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss including
other comprehensive income, the Consolidated Statement of Changes in Equity and the
Consolidated Statement of Cash Flow dealt with by this Report are in agreement with
the relevant books of account maintained for the purpose of preparation of the
consolidated financial statements.
Except for the effects of the matter described in Basis for Qualified Opinion section
‘above, in our opinion, the aforesaid consolidated financial statements comply with the
Accounting Standards specified under Section 133 of the Act.
Page 4 of 7
Head otice: 60, lar 6, Rabe Titan, Western Expres gh, Geetarall allway Colony, Ran Nagar, Goregnon (fe), Mumbai 400063, NDA, Te: +91 22626 0519
Shedd | Bengsn Chernal 1 Gos 1 Gurugram | rhdeabed. | Koen! 1 Kolata | unba T Pe MSKA & Associates
Chartered Accountants
e. On the basis of the written representations received from the directors of the Holding
‘Company as on March 31, 2025 taken on record by the Board of Directors of the Holding
‘Company and the report of the statutory auditor of its subsidiary company incorporated
‘n India, none of the directors of the Group companies are disqualified as on March 31,
2025 from being appointed as a director in terms of Section 164 (2) of the Act.
f. The qualification of matter relating to the maintenance of accounts and other matters
connected therewith are as stated in the Basis for Qualified Opinion paragraph above.
g. With respect to the adequacy of internal financial controls with reference to
consolidated financial statements of the Group, its and the operating effectiveness of
‘such controls, refer to our separate report in “Annexure B”.
h. With respect to the other matters to be included in the Auditor's Report in accordance
‘with Rule 11 of the Companies (audit and Auditor's) Rules, 2014, in our opinion and to
‘the best of our information and according to the exalanations given to us:
4, The consolidated financial statements disclose the impact of pending litigations on
the consolidated financial position of the Group, Refer Note 36 to the consolidated
financial statements.
fi, The Group did not have any material foreseeable losses on tong-term contracts
including derivative contracts.
Jil, There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Group.
fw.
a. The respective Managements of the Holding Company and its subsidiaries, which
are companies incorporated in India whose financial statements have been
audited under the Act have represented to us and the other auditors of stich
subsidiaries, respectively that, to the best of their knowledge and belief, no
funds have been advanced or loaned or invested (either from borrowed funds
of share premium or any other sources or kind of funds) by the Holding Company
oF any of such subsidiaries, to or in any other person(s) or entity(tes), including
foreign entities with the understanding, whether recorded in writing or
otherwise, as on the date of this audit report, that such parties shall, directly
oF indirectly lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Holding Company or any of such subsidiaries
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.
Page 5 of 7
Hess once: 40, Foe 6, Rabe Tham, Western Extes Highway, Geetanjal Railway Colon, Ram Wear, Govegan samba 400063, INDIA, Te: +9922 6298 O518
Dhevedobes | Bengsiors | Chemat |" Goa |” Gurygom 1 Pyceratad™ | Koch | Raata’ | Mania | Pune MSKA & Associates
Chartered Accountants
b. The respective Managements of the Holding Company and its subsidiaries which
‘are companies incorporated in India whose financial statements have been
audited under the Act have represented to us and the other auditors of such
subsidiaries respectively that, to the best of their knowledge and betief, no
funds have been received by the Holding Company or any of such subsidiaries
from any person(s) or entity(ies), including foreign entities with the
understanding, whether recorded in writing or otherwise, as on the date of this
audit report, that the Holding Company or any of such subsidiaries, directly or
indirectly, lend or invest in other persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or
provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
¢. Based on the audit procedures that have been considered reasonable and
appropriate in the circumstances performed by us and that performed by the
auditors of the subsidiary, which are companies incorporated in India whose
financial statements have been audited under the Act, and according to the
information and explanations provided to us by the Management of the Holding
company in this regard nothing has come to our or other auditors’ notice that
has caused us or the other auditors to believe that the representations under
sub-clause (i) and (ii) of Rule 11(e} as provided under (a) and (b) above, contain
any material mis-statement.
vy. The Company has neither declared nor paid any dividend curing the year.
vi. Based on our examination, which included test checks, the Group has used
accounting and payroll software for maintaining its books of account which has
feature of recording audit trail (edit log) facility and the same has operated
‘throughout the year for all relevant transactions recorded in the software. Further,
during the course of our audit, we did not come across any instance of audit trail
feature being tampered with.
Additionally, the audit trail of pricr year has been preserved by the Company as per
the statutory requirements for record retention.
2. In our opinion, according to information, explanations given to us, the provisions of
Section 197 of the Act and the rules thereunder are not applicable to the Group, as it is
a private Company.
Page 6 of 7
Head otc: 602, lax 6, Rais Tiasion, Western Express Hihvay, Geetanjal Ralany Colony, Ram Nagar, Goveaon (E), Mumbai 0006, DIA, Tl: +99 22238 0519
‘Anmesabad | Bengluty Chern!" | Gos | Gagan | Hyderatad” | Koch’ | xoliae Mamba") Pune ok. MSKA & Associates
Chartered Accountants
3. According to the information and explanations given to us and based on the CARO reports,
issued by us for the Holding Company, the details of the Qualifications/adverse remarks
areas follows.
‘Sr. | Name of the cn Type of Clause
No Company Company | number of
(Holding | the CARO
Bubsidiary/ | Report
Associate) | which is
qualified or
Adverse
1 | Mobisy {U72900KA2008PTCOASIST | Holding Clause vi
Technologies Company
Private Limited
For MSKA& Associates
Chartered Accountants
ICAI Firm Registration No. 105047W
| \
ey
lv x 45) 3
Pankaj S Bhauwala Ker Se
Partner SPREE
‘Membership No. 233552
Upitt:252335520MJHRY3296
Place: Bengaluru
Date: September 10, 2025
Page 7 of 7
eos cfc; £92, Flor 6 Rela Titaium, Westen Exorets Hipvay,Geetnisl Ralnay Colony, Fam Kar, Goregacn ¢E), Mubal 400053, INDIA, Te: 91226238 0519
Uhmedatod | Bengtira Tchewal I Gaa TI Gaugam | jdorbad | aoxin | elhata”| smb |
Thine
eat i . 5 Toner No. 27, Flor ¢
MS KA & Associates feng 303,00
Chartered Accountants
ANNEXURE A TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE CONSOLIDATED
FINANCIAL STATEMENTS OF MOBISY TECHNOLOGIES PRIVATE LIMITED
Auditor's Responsibilities for the Audit of the Consolidated Financial Statements
‘As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
‘+ Identify and assess the risks of materiel misstatement of the consolidated financial
statements, whether due to fraud or error, design and perform aucit procedures responsive
to those risks, and obtain audit evidence that fs sufficient and appropriate to provide a basis
‘for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
‘omissions, misrepresentations, or the override of internal control.
‘+ Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, Under section 143(3)(I) of the Act, we
are also responsible for expressing our opinion on whether the Holding Company has adequate
intemal financial controls with reference to consolidated financial statements in place and
the operating effectiveness of such controls.
‘+ Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the management and board of
directors.
‘+ Conclude on the appropriateness of the management and board of director's use of the going
concern basis of accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on the
ability of the Group to continue as a going concern. If we conclude that a material uncertainty
‘exists, we are required to draw attention in our auditor's report to the related disclosures in
the consolidated financial statements or, if such disclosures are inadequate, to modify our
‘opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor's report. However, future events or conditions may cause the Group to cease to
continue as a going concern.
+ Evaluate the overall presentation, structure and content of the consolidated financial
statements, including the disclosures, and whether the consolidated financial statements
represent the underlying transactions and events ina manner that achieves fair presentation.
‘+ Obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business activities within the Group to express an opinion on the consolidated
financial statements. We are responsible for the direction, supervision and performance of
the audit of the financial statements of such entities included in the consolidated financial
statements of which we are the independent auditors. For the other entities or business
activities included in the consolidated financial statements, which have been audited by
‘other auditors, such other auditors remain responsible for the direction, supervision and
performance of the audits carried out by them. We remain solely responsible for our audit
opinion.
PERSE
Page 1 of 2
Head Otic 622, Ror 4, Raheja Tian, Westerr Expres Hhnay, Goetansl Rasy Celery, Ram Nagar, Gorezan E), Mumba ADDO, NDI, Tes 94726208 0519
‘Armecatad | Bewgiate | Enso 1 Gos Gutugmn | Hycerabed | Hoch) | Koate™ | Mimbat | Pune ee MSKA & Associates
Chartered Accountants
‘We communicate with those charged with governance of the Holding Company and such other
entities included in the consolidated financial statements of which we are the independent
auditors regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internat control that we
‘identify during our audit.
We also provide those charged with govemance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence,
and where applicable, related safeguards.
For MS KA & Associates
Chartered Accountants
ICAI Firm Registration No. 105047W
fr
Partner
\ ‘Membership No. 233552
4 UDIN: 25233552BMJHRY3296
Place: Bengaluru
Date: September 10, 2025
Page 2 of 2
Head otce: #02, lor 6, Raa Titan, Western Expres Fghnay, Gastar alia Colony Ram Nagar, Gorepxcn (), Mumbo ZOE, NDIA, Te: 491226238 0519
Bhmedsss.| Bengal | Cremer” | Goa | Guugrom= | Hyderabad | ech’ | Kohata | akimbet | Pune ‘woman 0 Tower, No. 27, Floor 4
MSKA & Associates teegeu seo, ou
Chartered Accountants
ANNEXURE B TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE CONSOLIDATED
FINANCIAL STATEMENTS OF MOBISY TECHNOLOGIES PRIVATE LIMITED
[Referred to in paragraph 2(g) under “Report on Other Legal and Regulatory Requirements’ in the
Independent Auditors’ Report of even date to the Members of Mobisy Technologies Private Limited on
the consolidated Financial Statements for the year ended March 31, 2025)
Report on the Internal Financial Controls under Clause (1) of Sub-section 3 of Section 143 of the
Companies Act, 2013 (“the Act”)
Opinion
Jn conjunction with our audit of the consolidated financial statements of the Company as of and for the
year ended March 31, 2025, we have audited the intemal financial controls reference to consolidated
financial statements of Mobisy Technologies Private Limited (hereinafter referred to as “the Holding
Company") which includes the intemal financial controls over financial reporting of the Holding
Company's and its subsidiary (the Holding Company and its subsidiary together referred to as “the
Group”), which are companies incorporated in Indla, as of that date.
Reporting under clause (i) of sub section 3 of Section 143 of the Act in respect of the adequacy of the
{internal financial controls with reference to financial statements is not applicable to one subsidiary,
‘incorporated in India namely BIZOM E-RTM Solutions Private Limited, pursuant to MCA notification GSR
583(E) dated June 13, 2017.
In our opinion, and to the best of our information and according to the explanations given to us, the
Holding Company has in alt material respects, an adequate internal financial controts with reference to
consolidated financial statements and such intemal financial controls with reference to consolidated
Financial statements were operating effectively as at March 31, 2025, based on the internat financial
controls with reference to consolidated financial statements criterla established by the respective
‘companies considering the essential components of internal control stated in the Guidance Note on Aucit
of internal Financial Controls Over Financial Reporting (the “Guidance Note") issued by the Institute of,
Chartered Accountants of India (“ICAM")..
‘Management's and Board of Director's Responsibility for Internal Financial Controts
‘The Management and the Board of Directors of the Group are responsible for establishing and maintaining
{nternal financial controls based on the internal control with reference to consolidated financial
statements criteria established by the respective companies considering the essential components of
internal control stated in the Guidance Note issued by ICAI. These responsibilities include the design,
‘implementation and maintenance of adequate internal financtal controls that were operating effectively
for ensuring the orderly and efficient conduct of its business, including adherence to the respective
‘company's policies, the safeguarding of tts assets, the prevention and detection of frauds and errors, the
accuracy ang completeness of the accounting records, and the timely preparation of reliable financial
information, as required under the Act.
lias ofc: 602, Fle 6, Rane Tantm, Yestern Excres Hany, Geeta Ray Colny, Ram Now, Goenson (Mumbo 40063, MOL, Tel: 61 22 236 €819
Dtmedtog | Bangeara | Cheon Goa I Cumugrm. | Mydeabad Holi | xabbate | Smet | Puse ums MSKA & Associates
Chartered Accountants
Auditors’ Responsibility
‘Our responsibility 1s to express an opinion on the internal financial controls with reference to
consolidated financial statements of the Group, which are companies incorporated in India, based on our
audit. We conducted our audit in accordance with the Guidance Note issued by the ICAI and the Standards
‘on Auditing prescribed under section 143(10) of the Act, to the extent applicable to an audit of internat
financial controls. Those Standards and the Guidance Note require that we comply with ethical
requirements and ptan and perform the audit to obtain reasonable assurance about whether adequate
internal financial controls with reference to consolidated financial statements was established and
maintained and if such controls operated effectively in all material respects,
‘Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal
financial controls with reference to consolidated financial statements and their operating effectiveness.
‘Our audit of internal financial controls with reference to consolidated financial statements inciuded
obtaining an understanding of intemal financial controls with reference to consolidated financial
statements, assessing the risk that a material weakness exists, and testing and evaluating the design and
‘operating effectiveness of internal control based on the assessed risk. The procedures selected depend
‘on the auditor's judgement, including the assessment of the risks of material misstatement of the
consolidated financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained and the audit evidence obtained by the other
aucitors in terms of their reports referred to in the Other Matter paragraph below, ts sufficient and
appropriate to provide a basis for cur audit opinion on the internal financial controls with reference to
consolidated financial statements of the Group, which are companies incorporated in India.
‘Neaning of Internal Financial Controls With Reference to Consolidated Financial Statements
‘A Company's intemal financial contrat with reference to consolidated financtal statements 1s a process
designed to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of consolidated financial statements for external purposes in accordance with generally
accepted accounting principles. A company’s internal financial control with reference to consoitdated
financial statements includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the
assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to
Permit. preparation of consolidated financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are being made only in
accordance with authorizations of management and directors of the company; and (3) provide reasonable
assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of
‘the company's assets that could have a material effect on the consolidated financtal statements.
Inherent Limitations of Internal Financial Controls With Reference to Consolidated Financial
Statements
Because of the inherent limitations of intemal financial controls with reference to consolidated financial
statements, including the possibility of collusion or improper management override of controls, material
misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation
of the internal financial controls with reference to consolidated financial statements to future periods
are subject to the risk that the internal financial control with reference to consolidated financial
statements may become inadequate because of changes in conditions, or that the degree of compliance
the policies or procedures may deteriorate.
oad fice: 62, Flor 6, anes Tan, stern Expres Highany, Gaetano aivay Colony, Rm Ne, Gaga) Amba A503, MDL, Teo 226238 0519
‘meditad. | Benga 1 Chem! | Goa I” Gann Hyderabec | Wech tabata | Momb | Fone ‘ama MSKA & Associates
Chartered Accountants
Other Matter
Our aforesaid report under Section 143(3)(H) of the Act on the adequacy and operating effectiveness of
‘the internal financial controls with reference to consolidated financial statements insofar as it relates
toone subsidiary company which is a Company incorporated in India, is based on the corresponding report
of the auditor of such company incorporated in india.
Our opinion is not modified in respect of this matter.
For MS KA & Associates
Chartered Accountants
JCAI Firm Registration No, 105047W. oss...
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‘Membership No: 233552
v UDIN: 25233552BMJHRY3296
Place: Bengaluru
Date: September 10, 2025
Head ie i Flax 6, aes Tarun, Western Expres High, Getanal ater Coleny R Neg, Gorepsen (9), Mutat 400062, NDI, Tet: + 2 62480549
vncaied 1" Remsoy Chane | Goat Gorapam | Modern | ROOM Telia | minal oe Mobisy TechadlglesPrfate Limited
‘Convelidated Balance Seta at March 31,2025
(All smounts ia Clon, excep share at and sates td)
5 iar aa
Note paveh 31,2028 March 31.2024
‘erie
[Non-current acts
Proper, plat and equipment M 128 tae
Rights weit 8 nn apt
Imsngibe ase 32 36 -
Financial ste
(Bank balance cher than cash and cash equiv alee 0 vena2 an
i Other fine assess 5 ze Tai
cre ax asses et) 7 a
‘Other nom cure ase 6 fot
‘Toil nog-careea asses iM
4 si6 -
' wat psn
° S192 198
(Gs) ark balance oer than cash nd cash eats 0 a0 35.80
(69 Or Goancil ets 5 5136 286
(1) Other ewrent asses ‘ M9 994
‘Teen cucreat asses 8.90 ZL
“Total acts 30.96
aqulty and nabaites
Bai
Eauity share capist " ost 036
Inctunents entire equity i me " 108 oar
Other aig
eserves and spins Ra 253.68 e200)
uit component af eomventbie debenares B : Pde
es of her comprabensve incor 28 1.09) wisn
“otal eqity Beant Teo50)
Lisbiiies
‘Naw-ourrea Labibies
Finacial ies
i) Boconings 8 - saa
(iy Lease lbs is 246 1501
Provisions % 4503 3455
‘Total won-currea bites SE? eat
‘Curceat ible
aac Habits
1 Boeing 6 - 136
‘Gy Lease biiies is v3 ru
i) Trade payables 1
= Tot otsnncing des of eo cxtemrises and small emer 2a 1
“oul ousianding does of credo ether than mer enemies a4 arall
centric 1936
09) Other Rei bios 8 se? Bar
‘ibereueen ible 0 16506 tasat
Prosions 6 vas 3656
‘otal eurrent iin 32426 196.60
“Vota abies 3165 395.01
3309 5
‘Tota eqlty ad abies
Mazes accounting policies
‘The accompanying owes are a integral pa of We consolidated anil semen
As pecour report of even dat attached
for MSHA Asocates
Charter decounonis
region umber 105087W™
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‘Meberip Ne: 233552
Pace: Bengals
ame: September 10,2025,
for aadon bef ofthe Bear of Dies of
‘Mobiey Teetoteges Private Limited
CIN: UI2OOKAZOOEFTCOASIST
Lait Gevtad Bie
Dirwsar
oe a220248
Pe: Beogahry
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yer
Dirscior
DIN: 02 750480
Place: engine
‘Date Septemer 10,2028 Die: September 10,2025 ‘Mobisy Techaologies Private Limited
‘Consolidated Statement of Profit and Loss for the year ended March 31, 2025
(All amounts in € millions, except share data and as otherwise stated)
‘year ended ‘Year ended
La March 31,2025 March 31, 2024
Tneome
Revenue ftom operations 19 882.95 780.01
Other income 20 2583 5.68
Total income a oe
Expenses
Employee benefits expense 2 on49 606.30
Fiasnice costs 2 1143 1382
Depreciation and amortisation expense 2 24.40 3282
Other expenses 24 331.79 20587
Total expenses aso
{Loss before tax aaa
‘Tax expense
Curren eax - 92s
‘Current tax earlier years - 130
Deferred tax - :
‘Total tax expense ea
Loss for the year 13633) (eae)
Other Comprehensive Income (OCT)
‘tems that will not to be reclasified fo profit or loss:
‘Re-measurement gains/ (tosses) on defined benelit plans a 34) ar
Income tax relating to items that will not be reclassified to profit or loss : :
‘ters that will be reclassified to profit or loss:
Exchange differences on translating the financial staicments ofa foreign operation 3.82 30)
Income tox relating to items that will be reclassified to profit or loss : -
‘Other conaprehensive lass for the vear, wet of tax Oy 116
‘Total comprehensive toss for the year se
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Earnings per equity share (nominal value of © (March 31, 2624 -€ 1)} 28
Basie earings per share (in INR) (240.17) 289.54)
Diluted earings per share (in INR) (240.77) (289.54)
Materiat accounting policies 2
‘The accompanying notes are an integral part ofthe consolidated financial statements
As per out report of even date attached.
for MSK A & Associates for and on bebalf of the Board of Directors of
Chartered Accountants “Mobisy Technologies Private Limvted
en's registration number: 105047W CIN: U72900KA2008° 10085157
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Pankaf Bhauwala ie i Lalit Govind Baise Shree Bhise
Pastner 3Q\ | Director Director
Membership No: 233552 “Se DIN: 02202845 DIN: 02759442
Place: Bengatury Place: Bengalara Place: Bengaturu
Date: September 10,2025 Date: September 10,2025 __Date: Sepicmber 10,2025
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